Gold held a weekly loss as the dollar steadied and markets remained fragile after the escalation in the U.S.-China trade war.
Spot gold -0.1% at $1,275.92/oz at 7:24am in London, after dropping 0.7% last week. Bloomberg Dollar Spot Index steady, after +0.8% last week.
Chinese Foreign Minister Wang Yi told U.S. Secretary of State Mike Pompeo in a call on Saturday that while it’s still possible to work out a deal, Beijing must safeguard its interests. President Donald Trump said he was “very happy” with the trade war and that China wouldn’t become the world’s top superpower under his watch, signaling he was in no rush to get back to the negotiation table.
Source : Bloomberg